How long is an RV loan term?
RV loans typically range from 10 to 15 years. But many banks, credit unions and other finance companies will extend the term up to 20 years for loans of $50,000 or more on qualified collateral. Get a loan term up to 12 years (144 months) for a fixed RV loan with Mountain America Credit Union. We also offer a 20-year balloon payment option on qualified RVs. With flexible financing terms, buyers can also consider making extra payments or pay the loan off entirely before the term is up.
What are the financing terms on RV loans?
Financing terms generally range between 10 to 20 years. Most lenders offer flexible financing terms for new and used RV financing and refinancing. Options include choosing a shorter financing term with a higher payment, while others may choose a longer term with lower payments.
You can also customize the financing terms for your RV by selecting something in between. Choose the longest available loan term with the lowest monthly payment and pay off a little more than the given amount each month. Doing so can lower your effective interest rate and significantly shorten the length of your RV loan term.
At Mountain America Credit Union, we offer flexible financing options to purchase or refinance both new and used RVs.